Baker Hughes US Land Weekly Rig Report - Sept 11 2020

 The Baker Hughes US Land Weekly Rig Count was down 2 rigs this week to 238 active rigs. The ArkLaTex, Northeast and Permian each dropped one rig. The MidCon added 1 rig this week.

The ratio between oil rigs and gas rigs has stabilized over the last few weeks. As the oil rig count dropped dramatically at the start of the downturn and  slight increase in the gas rig count, the ratio between oil rigs and gas rigs is now 71% oil rigs and 29% gas rigs. Before the downturn, the ratio was 86% oil rigs and 14% gas rigs. If gas prices can hold on to current price increases, this ratio may continue to swing upward for gas rigs

Figure 1: Baker Hughes US Land Weekly Rig Count - Sept 11 2020
(Source: Baker Hughes)

Table 1: Baker Hughes US Land Weekly Rig Count - Sept 11 2020
(Source: Baker Hughes)